I suppose this is possible but context will decide if it sounds natural or not.a lot of something: We have oceans of time.
Please tell us what xyz is along with the context.What should I write: there is/ are oceans of xyz( an uncountable noun).
I hope you saw this.(old-fashioned)
In what situation would you want to use it?there was oceans of darkness on the either side of the avenue.
Or is your question specifically on the use of "is/are"? I wasn't sure because if it is, the meaning of "oceans" which you quoted isn't really relevant.What should I write: there is/ are oceans of xyz( an uncountable noun).